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Recurring deposit in post office

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(Querist)
12 November 2014 Hi All,

There is quite a lot of ambiguity on this topic, hence I am posting a query for a final opinion on this. Is recurring deposit in post office allowed as a deduction under section 80 C? Or only a time deposit (fixed deposit) for a period of 5 years is allowed as a deduction?

Thanks in advance
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
12 November 2014 only a times deposit with maturity of 5 years or more will get the deduction that too in the year of deposit.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
12 November 2014 only a times deposit with maturity of 5 years or more will get the deduction that too in the year of deposit.
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Rupesh Jain

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Rupesh Jain (Expert)
22 November 2014 u./s 80C only time deposit will eligible.

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